Kelley Blue Book LLC

Sorry, Sacramento: Tesla Motors has chosen Nevada as the site for its proposed $5 billion battery plant. The state's governor, Brian Sandoval, will announce the deal Thursday afternoon at a news conference in Nevada's capital, Carson City, according to a source with knowledge of the agreement. In winning the contract, Nevada beat out California, Texas, Arizona and New Mexico to host the factory where Tesla, in partnership with Japanese electronics giant Panasonic, will build the lithium ion batteries for its electric vehicles. Tesla had previously said the “gigafactory” could employ as many as 6,500 people by 2020. But the company has also said it could eventually...

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